The 3 Basic Questions of Forex Trading
1. Where can we Trade Forex?
Any Foreign exchange transaction is known as a forex trade. We all trade forex indirectly which we have not noticed many times, a couple of examples are we buy the desired currency of the country in which we are travelling, or while online shopping we have to purchase the product via different currency and then it is converted into our local currency by the bank and etc.
In order to Trade Forex as a speculative trader or an investor, we have to trade it with a forex broker. There are many types of Forex brokers, which include banks, private companies and agents. Trading forex with a forex broker does not cost any fees or commission. The only transaction cost, which we pay, is the spread between the buy and sell price of the currency pair. Many forex brokers offer razor thin spreads which minimizes the trading cost.
2. When can we Trade Forex?
Forex market is a true 24 hours speculative trading market. We can trade forex anytime between Sunday 10:00 GMT to Friday 10:00 GMT every week.
3. How can we Trade Forex?
Thanks to the internet and the latest technology, almost all forex brokers, provide trading software for every type of device, we can trade forex from everywhere, whether it would be our office, our home or while we are traveling. We only require staying connected to internet with our forex broker and can easily trade with our laptop, tablet or any mobile.
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